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Tag Archives: cyber security

Cyber risks of working from home (in light of COVID-19) and how to mitigate them

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By Rickard Jorgensen, FCII, ARM, ACIArb. Many firms permit staff to work from home or at least work while on the road.  but the number of remote users may increase in the wake of the current coronavirus (COVID-19) outbreak. Consequently, it’s crucial not to allow the precautions designed to protect the physical health of your […]

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Section 7216 – requesting client permissions

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By Rickard Jorgensen, FCII, ARM, ACIArb We would recently approached by a  policyholder about affirmative consent requirements imposed by IRS regulations under Internal Revenue Code section 7216. Under the code, a tax return preparer is subject to criminal penalties under section 7216 if the preparer “knowingly or recklessly” discloses or uses tax return information. A […]

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Police Warn of New ‘Line-Trapping Technology’ Being Used to Scam People Over the Phone

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A new piece of sophisticated technology is being used by fraudsters to scam unsuspecting people over the phone. Police said a woman in the New York Region received a call earlier this month and was told by the scammers she had been a victim of identity theft. Police said the woman was directed to call […]

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Security Policy for CPA firms – a template

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We have received several enquiries from members of the CPAGold™ program for help with a suggested wording for a Cyber Security Policy as required by the IRS rules. As you will be aware, there is a lot of information available about this topic.  One of the best white papers is Small Business Information Security: The […]

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Gotcha! Three cyber policy traps to look out for (and a postcript to the CCH hack)

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The following is an article published by CFC Underwriting, a leading cyber insurer based in London. The original article appears here. ——————————————————————————————————————— Cyber insurance is projected to experience major growth in the years ahead and new insurers are regularly entering the market. While this is creating greater competition and providing more choice for customers, some insurers […]

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A cyber coverage “Fire Drill” – professional liability insurance implications of the CCH Axcess (Wolters Kluwer Tax & Accounting) malware attack.

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By Rickard Jorgensen, FCII, ARM, ACIArb Last Monday we received a flurry of frantic phone calls from clients about the denial of access to the CCH Axcess program.  On Monday May 6, between the hours of 8-10 a.m. E.T., accountants across the country started realizing their CCH products, which are based in the cloud, were […]

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Data Breach and Insider Trading

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CPAs practicing in mergers and acquisitions are familiar with the sensitive nature of their work and the potential for abuse of the information obtained. In addition to the conflict of interest created by trading on that information themselves, they must take extensive precautions to ensure that they do not allow that information to slip to […]

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Fraudulent Wire Transfers – the latest word

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by Rickard Jorgensen, FCII, ARM, ACIArb. In the past few years we have seen quite a few of these costly and tragic situations and paid a number of claims made against our CPA firm and investment professionals clients. The essence is that a CPA or adviser (or Trustee) is induced by a trick, artifice or […]

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How To Protect Your Accounting Firm From a Cyber Attack

Facts you need to know on cyber attacks

By Nick Matarazzo A data breach can wreak havoc on your business and its reputation. Not to mention the fines incurred and countless hours you will spend reviewing your computers and the source of the threat. Research suggests that 90% of cyber attacks stem from a phishing or social engineering attack. Educate your employees about […]

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Cybercrime Uses Social Engineering Techniques to Steal Employee Credentials and Commit Payroll Diversion

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By Rickard Jorgensen, FCII, ARM, ACIArb Recent developments clearly shows the urgent need for security awareness training. The FBI warned September 18, 2018 about new criminal campaigns that target the online payroll accounts of employees in a variety of industries. METHODOLOGIES “Cybercriminals target employees through phishing emails designed to capture an employee’s login credentials. Once […]

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